W.G. Shaheen & Associates DBA Whitney & Co Reduces Holdings in Alphabet Inc. (NASDAQ:GOOGL)

W.G. Shaheen & Associates DBA Whitney & Co trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 105,134 shares of the information services provider’s stock after selling 3,085 shares during the quarter. Alphabet accounts for approximately 2.2% of W.G. Shaheen & Associates DBA Whitney & Co’s investment portfolio, making the stock its 12th largest position. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Alphabet were worth $19,150,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of GOOGL. Christopher J. Hasenberg Inc lifted its position in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the last quarter. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Alphabet during the fourth quarter worth $30,000. Tributary Capital Management LLC bought a new stake in shares of Alphabet during the first quarter worth $30,000. Kings Path Partners LLC bought a new stake in shares of Alphabet during the second quarter worth $36,000. Finally, CarsonAllaria Wealth Management Ltd. lifted its position in shares of Alphabet by 59.2% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after purchasing an additional 109 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $151.16 on Thursday. The business’s 50 day moving average price is $168.75 and its 200 day moving average price is $164.42. The firm has a market cap of $1.86 trillion, a P/E ratio of 23.18, a P/E/G ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same quarter in the prior year, the firm earned $1.44 earnings per share. On average, sell-side analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.53%. Alphabet’s dividend payout ratio is currently 12.27%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GOOGL. Wedbush reiterated an “outperform” rating and set a $205.00 target price on shares of Alphabet in a research report on Thursday, September 5th. Cantor Fitzgerald began coverage on Alphabet in a report on Thursday, September 5th. They issued a “neutral” rating and a $190.00 price objective for the company. Guggenheim lifted their price objective on Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Bank of America lifted their price objective on Alphabet from $200.00 to $206.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, Morgan Stanley decreased their price objective on Alphabet from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Tuesday, September 3rd. Eight analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $201.76.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $177.40, for a total value of $3,991,500.00. Following the sale, the chief executive officer now owns 2,213,011 shares in the company, valued at $392,588,151.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $185.85, for a total value of $278,775.00. Following the completion of the transaction, the director now directly owns 30,824 shares of the company’s stock, valued at $5,728,640.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the completion of the transaction, the chief executive officer now directly owns 2,213,011 shares of the company’s stock, valued at $392,588,151.40. The disclosure for this sale can be found here. Insiders have sold a total of 179,367 shares of company stock worth $30,016,931 over the last quarter. Insiders own 11.55% of the company’s stock.

Alphabet Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.